What does Financial Stability Board mean? Read on to discover the definition & meaning of the term Financial Stability Board - to help you better understand the language used in insurance policies.
Financial Stability Board
Created by the Group of Twenty (G-20) Finance Ministers and Central Bank Governors in 2009 as a successor to the Financial Stability Forum. It was created to coordinate the work of national financial authorities and international standard-setting bodies to develop and promote the implementation of effective regulatory, supervisory, and other financial sector policies in the interest of financial stability. The FSB combines national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. The FSB advocates a major program of financial regulatory reforms to address the problems of the financial system to create consistent rules and a level playing field across countries. The goal of the FSB is to provide recommendations and explore how to treat globally systemically important financial institutions to prevent financial crises.
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